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Loans Available to Maine Nonprofits Due to Last Year’s Storm

Loans Available to Maine Nonprofits Due to Last Year’s Storm

Photo: 560 WGAN Newsradio


YORK, Maine (AP) The federal government is reminding private nonprofit groups in southern Maine that they have until early March to request a loan to help with damages suffered during a storm and flooding last year.

The U.S. Small Business Administration is taking economic injury disaster loan applications from York County nonprofit organizations until March 4. The storm happened in early March 2018.

The federal government makes the loans available to organizations such as food kitchens, homeless shelters, schools and libraries. The SBA says assistance is available regardless of whether the organization suffered physical property damage. Loans can be as much as $2 million with an interest rate of 2.5 percent and terms up to 30 years.

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